Can I exit the contract before the end of the term, or buy the investor out?
Yes, you can! If you choose to buy the investor out, an appraisal is ordered to determine the fair market value of your home. The payment you make to the investor will be similar to what you would pay if you sold your home.
You can exit the contract at any point of time before the end of the term. The final payment amount will be based on the home value at that time and the percentage share of the appreciation. There is no prepayment penalty or additional fees if you exit before the end of the term.
You will need to discuss specifics with the investor.
What amount is due at the end of the term?
At contract expiry, the final amount due is based on the appreciation of your home’s value. The percentage is disclosed upfront at the start of the contract and remains constant throughout.
How is the future appreciation calculated?
A home appraisal is done in the future when you choose to exit the contract. That value to determines the appreciation of the home.
How is the value of the home determined for final payment?
The final home value is determined by an independent 3 rd party appraiser at the time of expiry.
Do I have to sell my home for the final payment?
No. You do not need to sell your home. Investors can offer complete flexibility for repayment and work with you on a variety of options, including refinancing, cash payments etc.
What are the fees with the contract?
The initial estimate is free and has no commitments tied to it. Once you complete the final application, investors charge a one-time servicing fee between 3 - 4% of the requested financing amount before transferring the funds.
Who pays for verification, filing, notary fees etc.?
The Investors pay for a variety of costs such as credit check, income verification, lawyers, notary etc. All these are included in the servicing fees charged.
What does the home appraiser do?
The home appraiser’s report is utilized to set the value of your home for the financing. The appraisal fees are the fees an independent appraiser charges for inspecting and determining the home value. Investors work with national appraisal management companies (AMCs) for this purpose.
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Note that after you have spoken with the Equity Share Investor, if you wish to work with us on investments, you will need to then contact us.